MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HULL CONCEPT LTD |
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Registered Office : |
Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
4.10.2000 |
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Com. Reg. No.: |
64294 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Trading Company |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 60, 000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
HULL CONCEPT LTD
Principal Address:
Port Louis, Mauritius
Telephone: +230-2812394
Fax:+230-22121110
Email: None
Internet: None
Established:
4/10/2000
Registration:
No. 64294
Legal Form:
Company Limited By
Shares
Stock Listing:
Not Listed
Workforce:
2006
400
Office & Factories
Head offices Port Louis, Mauritius
Branches None
Company Profile:
Paid in Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Shareholders
Name Position No. of shares Ratio
Mr. S Antoine Director
Mr. V Philippe Director
Total 100.00%
Credit Opinion:
Our proposed credit amount of USD 60,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. S Antoine
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. V Philippe
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may or
may not be officially registered as a president or an executive director.
Business Activities
Trading company
Terms of
payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None Stated
Customers
Companies
Recent Sales
MUR. 182,000,000
(2006)
Exports
Neighboring
countries
Export Ratio
40.0%
Import Ratio
60.0%
Domestic Market Share
5.0%
Banking relationship
Main Banks MCB Bank
Credit Check of Subject, President
& CEO (as of report date)
Payment Morale: In the documents at our disposal
nothing adverse has been shown so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 60,000 outstanding at any one time.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to
assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)